Alphabet (NASDAQ:GOOGL) Shares Down 0.1% on Insider Selling

Shares of Alphabet Inc. (NASDAQ:GOOGL) were down 0.1% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $169.03 and last traded at $170.90. Approximately 7,472,490 shares were traded during trading, a decline of 72% from the average daily volume of 27,131,434 shares. The stock had previously closed at $171.11.

Specifically, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of analysts recently issued reports on GOOGL shares. JMP Securities boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday. The Goldman Sachs Group decreased their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Finally, Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. The business’s fifty day moving average price is $162.43 and its two-hundred day moving average price is $168.91.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business earned $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 7.85 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XML Financial LLC boosted its stake in shares of Alphabet by 5.5% during the 3rd quarter. XML Financial LLC now owns 25,595 shares of the information services provider’s stock worth $4,245,000 after acquiring an additional 1,325 shares in the last quarter. Austin Asset Management Co Inc boosted its position in Alphabet by 3.6% during the third quarter. Austin Asset Management Co Inc now owns 3,550 shares of the information services provider’s stock worth $589,000 after purchasing an additional 124 shares in the last quarter. GSG Advisors LLC grew its holdings in Alphabet by 13.2% in the third quarter. GSG Advisors LLC now owns 6,446 shares of the information services provider’s stock valued at $1,076,000 after purchasing an additional 753 shares during the period. Essex Savings Bank raised its stake in shares of Alphabet by 2.3% during the 3rd quarter. Essex Savings Bank now owns 26,013 shares of the information services provider’s stock worth $4,314,000 after buying an additional 581 shares during the period. Finally, Cypress Point Wealth Management LLC lifted its position in shares of Alphabet by 2.4% during the 3rd quarter. Cypress Point Wealth Management LLC now owns 3,617 shares of the information services provider’s stock valued at $600,000 after buying an additional 86 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.